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FED ER A L RESERVE BANK O F NEW YORK Fiscal A gen t o f the United States r C ir c u la r N o. 7 3 5 March 7, 1974 L J Results o f T reasu ry’ s 5 2 -W eek B ill A u ction To A ll Incorporated Banks and Trust Companies, and O thers Concerned, in the Second Federal R eserve D istrict: The following statement was issued by the Treasury Department and released at 6:30 p.m., yesterday: Tenders for $1.8 billion of 52-week T reasu ry bills to be dated M arch 12, 1974, and to mature M arch 11, 1975, were opened at the Federal Reserve Banks today. T h e details are as fo llo w s : Range of Accepted Competitive Bids H igh ............................... 93.079 A pp roxim ate equivalent annual rate 6 .8 4 5 % per annum L ow ............................... 92.973 A pp roxim ate equivalent annual rate 6 .9 5 0 % per annum ........................ 93.026 A pp roxim ate equivalent annual rate 6 .8 9 7 % per annum 1 A verage 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.38%. (21 percent of the amount b id for at the low price was accepted.) Tenders Applied for and Accepted (By Federal Reserve District) Federal R eserve D istrict Boston ....................................................... .......... N ew Y o rk .............................................. ......... Total accepted Total applied for $ 28,310,000 2,592,100,000 $ 6,310,000 1,432,110,000 34,215,000 1,635,000 37,410,000 33,830,000 R ichm ond ............................................... 39,040,000 23,040,000 Atlanta 11,780,000 2,780,000 C hicago ..................................................... 336,205,000 181,805,000 St. L ouis .................................................. 37,785,000 M in n e a p o lis.............................................. 19,170,000 11,705,000 10,170,000 Philadelphia ............................................ ................................................ ......... Cleveland ..................................................... ....................................................... 19,925,000 3,295,000 2,925,000 San F rancisco ...................................... 196,465,000 90,465,000 $3,357,855,000 $1,800,070,000 Kansas City ............................................ ......... Dallas T otal ......................................... ........... 5,450,000 a Includes $35,605,000 noncompetitive tenders accepted at the average price. A lfred H a y e s , President.
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